Brentwood, TN, and Harrisburg, PA August 21, 2019 – The PA Bankers Services Corporation (Services Corp.) and Ncontracts jointly announce the addition of Ncontracts into the corporation’s Select Vendor Program. Ncontracts’ suite of solutions will help the Pennsylvania Bankers Association’s (PA Bankers’) membership to more effectively address and manage third-party, compliance and operational risk.
With five federal regulatory agencies along with each state’s own regulatory bodies, risk management has become increasingly complex and time-consuming. As a result, financial institutions are finding it necessary to use software solutions that help them manage this mandated operation.
The Services Corp. allots “Select Vendor” status to a small group of industry providers with the goal of consistently providing PA Bankers members with a top-notch, pre-screened selection of products and services.
“With the ever-changing complexity of our current regulatory environment, we understand that our member banks need more tools to address the operational concerns related to third-party risk. Having vetted Ncontracts through our thorough due diligence process, we are confident it has the capability to help our banks better manage risk,” said Cindy Wallett, managing director, Services Corp.
The Ncontracts solution suite is one of the most comprehensive and cost-effective in the market today, protecting the bank’s most critical business operations. Among the risk and compliance areas covered are: vendor management, business continuity planning, cybersecurity assessments, contract management, audit and exam findings management, lending compliance and compliance management.
“The Services Corp.’s culture and commitment to PA Bankers’ membership resonated with us as we combine forces to help Pennsylvania banks address vendor, enterprise and compliance risk. Cost-effective, secure and scalable, Ncontracts provides a combination of software and services to financial organizations, which allows them to efficiently and effectively manage risk,” states Michael Berman, CEO of Ncontracts. “We’re excited to get our alliance underway.”